I think so, yes.
Actually, tax benefits are incentives, and they're really important for businesses when they find a profitable opportunity to bring something to the market. When these incentives were improved, we'd already measured how effective they were at attracting private investments in research and development. As I said, though, tax benefits aren't enough. Having a pool of talent and expertise is also important. The experimental development of discoveries, something I talked about earlier, is difficult to fund, and that's a weakness that needs to be strengthened.
There's a difference between discovery and innovation. Discovery is the search for new ideas with potential, while innovation is what opens the door to commercializing an idea or capturing its value to build wealth. That's the really important part: finding real-world applications for ideas.
The changes made to the scientific research and experimental development program will attract more private investment, because the program's benefits will apply to every dollar invested. That said, tax benefits are not enough. It's also important to invest in talent, and to strengthen the weakness that is the experimental development of discoveries.